Silverfin false 31/05/2023 01/06/2022 31/05/2023 Mrs S F Loffstadt 17/09/1991 19 February 2024 The principal activity of the Company during the financial year was that of the manufacture of packaging materials. 02122666 2023-05-31 02122666 bus:Director1 2023-05-31 02122666 2022-05-31 02122666 core:CurrentFinancialInstruments 2023-05-31 02122666 core:CurrentFinancialInstruments 2022-05-31 02122666 core:Non-currentFinancialInstruments 2023-05-31 02122666 core:Non-currentFinancialInstruments 2022-05-31 02122666 core:ShareCapital 2023-05-31 02122666 core:ShareCapital 2022-05-31 02122666 core:FurtherSpecificReserve1ComponentTotalEquity 2023-05-31 02122666 core:FurtherSpecificReserve1ComponentTotalEquity 2022-05-31 02122666 core:RetainedEarningsAccumulatedLosses 2023-05-31 02122666 core:RetainedEarningsAccumulatedLosses 2022-05-31 02122666 core:LandBuildings 2022-05-31 02122666 core:PlantMachinery 2022-05-31 02122666 core:FurnitureFittings 2022-05-31 02122666 core:OfficeEquipment 2022-05-31 02122666 core:LandBuildings 2023-05-31 02122666 core:PlantMachinery 2023-05-31 02122666 core:FurnitureFittings 2023-05-31 02122666 core:OfficeEquipment 2023-05-31 02122666 bus:OrdinaryShareClass1 2023-05-31 02122666 2022-06-01 2023-05-31 02122666 bus:FullAccounts 2022-06-01 2023-05-31 02122666 bus:SmallEntities 2022-06-01 2023-05-31 02122666 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 02122666 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 02122666 bus:Director1 2022-06-01 2023-05-31 02122666 core:PlantMachinery 2022-06-01 2023-05-31 02122666 core:FurnitureFittings 2022-06-01 2023-05-31 02122666 core:OfficeEquipment 2022-06-01 2023-05-31 02122666 2021-06-01 2022-05-31 02122666 core:LandBuildings 2022-06-01 2023-05-31 02122666 core:Non-currentFinancialInstruments 2022-06-01 2023-05-31 02122666 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 02122666 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 02122666 (England and Wales)

WILLITON PACKAGING LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

WILLITON PACKAGING LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

WILLITON PACKAGING LIMITED

BALANCE SHEET

As at 31 May 2023
WILLITON PACKAGING LIMITED

BALANCE SHEET (continued)

As at 31 May 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 495,131 502,388
495,131 502,388
Current assets
Stocks 58,080 62,452
Debtors 4 109,014 79,026
Cash at bank and in hand 4,813 39,549
171,907 181,027
Creditors: amounts falling due within one year 5 ( 147,800) ( 141,152)
Net current assets 24,107 39,875
Total assets less current liabilities 519,238 542,263
Creditors: amounts falling due after more than one year 6 ( 21,594) ( 31,567)
Provision for liabilities ( 4,573) ( 6,212)
Net assets 493,071 504,484
Capital and reserves
Called-up share capital 7 20,001 20,001
Fair value reserve 270,725 270,725
Profit and loss account 202,345 213,758
Total shareholder's funds 493,071 504,484

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Williton Packaging Limited (registered number: 02122666) were approved and authorised for issue by the Director on 19 February 2024. They were signed on its behalf by:

Mrs S F Loffstadt
Director
WILLITON PACKAGING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
WILLITON PACKAGING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Williton Packaging Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hendre Fawr, St Dogmaels, Cardigan, SA43 3LZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 15 % reducing balance
Fixtures and fittings 10 % reducing balance
Office equipment 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 10 10

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 June 2022 446,422 243,287 73,270 27,176 790,155
At 31 May 2023 446,422 243,287 73,270 27,176 790,155
Accumulated depreciation
At 01 June 2022 0 223,628 39,910 24,229 287,767
Charge for the financial year 0 2,949 3,336 972 7,257
At 31 May 2023 0 226,577 43,246 25,201 295,024
Net book value
At 31 May 2023 446,422 16,710 30,024 1,975 495,131
At 31 May 2022 446,422 19,659 33,360 2,947 502,388

4. Debtors

2023 2022
£ £
Trade debtors 105,359 69,026
Other debtors 3,655 10,000
109,014 79,026

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 9,973 9,727
Trade creditors 98,051 86,948
Corporation tax 30,269 24,943
Other taxation and social security 2,064 2,484
Other creditors 7,443 17,050
147,800 141,152

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 21,594 31,567

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
20,001 Ordinary shares of £ 1.00 each 20,001 20,001

8. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Opening balance - Directors Loan Account (12,260) (18,335)
Advances 13,908 13,075
Repayments 0 (7,000)
0 0
Closing Balance 1,648 (12,260)

Loan is interest free and repayable on demand.